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OHIO BANCORP SHAREHOLDERS APPROVE MERGER WITH NATIONAL CITY CORPORATION

 YOUNGSTOWN, Ohio, Aug. 31 /PRNewswire/ -- Shareholders of Ohio Bancorp (NASDAQ: OHBC) today approved the merger of the $1.6 billion Youngstown-based bank holding company with National City Corporation (NYSE: NCC), a $29 billion bank holding company headquartered in Cleveland. More than 95 percent of the shares voted were in favor of the transaction.
 The terms of the transaction, which is expected to be completed in early October, call for Ohio Bancorp shareholders to receive, for each Ohio Bancorp share, 1.06 shares of National City Corporation common stock; $28.25 in cash; or a combination of National City stock and cash.
 Upon completion of the merger, Ohio Bancorp's five member banks in eastern Ohio will become wholly owned subsidiaries of National City Corporation, reporting to J. Christopher Graffeo, president and chief executive officer of National City Bank, Northeast. In April 1994, these banks will merge into National City Bank, Northeast, operating as community units with local presidents and advisory boards. The advisory boards will consist primarily of existing directors, and several of Ohio Bancorp's board members will be nominated for director positions on the board of National City Bank, Northeast.
 Upon merger, National City Bank, Northeast will have approximately $3 billion in assets with over 90 branch offices throughout northeastern Ohio.
 Profile of Ohio Bancorp
 Ohio Bancorp is a $1.6 billion regional bank holding company based in Youngstown, Ohio with 52 branch offices located throughout eastern Ohio.
 Profile of National City Corporation
 National City Corporation is a $29 billion diversified financial services company headquartered in Cleveland. National City operates banks and other financial service subsidiaries principally in Ohio, Kentucky and Indiana.
 -0- 8/31/93
 /CONTACT: Thomas R. Hollern, president and chief operating officer, Ohio Bancorp, 216-742-4201; or Barbara O. Brown, assistant vice president, National City Communications, 216-575-3492/
 (OHBC NCC)


CO: Ohio Bancorp; National City Corporation ST: Ohio IN: FIN SU: TNM

AR -- CL009 -- 7575 08/31/93 14:33 EDT
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Publication:PR Newswire
Date:Aug 31, 1993
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